Velti took in $270 million in revenue in 2012, an increase of 43 percent from fiscal 2011. Of that, mobile advertising revenue was $54.3 million. The remainder came from Velti's various marketing services.

Velti already has a "sell-side" platform, Mobclix, in which app developers and publishers can offer their inventory in a real-time bidding auction to advertisers who need to buy media.

Velti Media, by contrast, is a "buy side" platform, in which buyers can bid on real time on inventory being offered across an array of networks (including Mobclix). The company thus has a piece of both sides of the action, so to speak.

Velti Media's advantage is its size and depth in the business, according to Krishna Subramanian, Velti's Chief Marketing Officer. "We can bring a lot of marketing data [that other networks do not have], which is very valuable," he tells us.

The new network tightens the race for largest mobile ad business on the planet.

Google is probably No.1 in that space, with a business booking billions in revenue.